Despite the minting of $50 million in TUSD, Zhao previously said the regulatory crackdown on stablecoins in the U.S. will cause the USD-back stablecoin market to “shrink.”
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Category: Algorithmic stablecoins
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Draft US stablecoin bill would ban new algo stablecoins for 2 years
It’s reported the bills’ definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price.
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Solana-based stablecoin NIRV drops 85% following $3.5M exploit
The $3.5 million flash loan attack Solana-based Nirvana Finance saw the price of its stablecoin NIRV and native token ANA fall around 85% apiece.
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Pain ahead for algorithmic and non-cash backed stablecoins: IMF director
IMF Director Tobias Adrian believes uncollateralized and algorithmically-stabilized stablecoins pose too great a threat to holders and may experience further sell-offs.
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Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year
Just recently, the product comparison platform finder․com polled 36 fintech specialists about the cryptocurrency terra (LUNA) before terrausd (UST) lost its parity with the U.S. dollar. According to the poll, Finder’s experts predicted LUNA would be $143 before the end of the year. Currently, LUNA is worth far less than a U.S. penny and while […]Powered by WPeMatico
Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD
Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolster the project’s reserves. In addition to the tron purchases, […]Powered by WPeMatico
Defi and Algorithmic Stablecoin Demand Grows in 2021 Despite Large Centralized Competitors
On Wednesday, October 13, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged tokens, a great number of decentralized stablecoins have been moving in on these centralized competitors. Algorithmic or defi-styled […]Powered by WPeMatico
